If that was their only profit 325k - on let's say proforma $15m pa (current) that would put net earnings at 2.2% which is shy of industry average. Of course, it's a function of business cycle/maturity also but perhaps a fairer number would be closer to $500k.
Forget the fact that Seaway is 60% owner at this point, they are after more of existing assets and now doubt will acquire full interest in the short to medium.
Now, assume a PE of 25 for a company in its growth stage (17 is average for industry) - 12.5m. But let's assume 500m in OS.
Having fun yet?....
pps WITHOUT brand expansion of Hacketts/other assets rolled into new co - 2.5 cents
Don't know about you but I'll take my EASY 5 bagger and build from there...